The idea of a tax credit for companies that create new jobs, something the federal government has not tried since the 1970s, is gaining support among economists and Washington officials grappling with the highest unemployment in a generation.
The proposal has some bipartisan appeal among politicians eager both to help their unemployed constituents and to encourage small-business development. Legislators on Capitol Hill and President Obama’s economic team have been quietly researching the policy for several weeks.
via Support Builds for a Tax Credit for Creating Jobs – NYTimes.com.
In other words, cutting taxes actually helps create jobs? Of course it does, but note the use of the term “tax credit” rather than “tax reduction”. Otherwise, everything else the Administration and Congress has done since January is revealed as a monstrous folly.
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